Harmonic Pattern Indicator is designed to determine patterns Gartley Butterfly, which was first described by Harold Hartley in the author’s book “Profit on the Stock Exchange” in 1935. Gartley Butterfly Pattern feature is that it is a model that has certain exact contours and mathematical relationships. That is, here we have to deal with the Fibonacci levels.
Harmonic Pattern Indicator for a MetaTrader4 platform. Harmonic Pattern is the ABC pattern and the fact you can see the trend inside the triangles and also the take profit and stop loss on the right hand side of the chart.
The triangle gives us a visual view of where the price is going and when it might be safe to enter a trade. We have won a few trades, as well as some losses.
What are trading patterns?
On a very basic level stock chart patterns are a way of viewing a series of price actions that occur during a stock trading period.
What is a harmonic pattern indicator?
The Forex harmonic patterns use the Fibonacci numbers to define accurate trading points. TradingView Platform: Harmonic Pattern Indicator. The harmonic pattern indicator allows you to call market turning points with a high level of accuracy.
Characteristics of Harmonic Pattern Indicator
Currency pairs: Any
Trading Time: Any
Timeframe: Any, recommended H1 and higher
Recommended broker: Exness
Harmonic Pattern Indicator finds the on the chart pattern and additionally shows in the upper right corner of the entry point, targets for the Take Profit and level for Stop Loss:
Day trading indicators are often touted as the holy grail of trading but that is simply not true.
They are a useful trading tool that should be used in conjunction with a well rounded trading plan but are not and should not be the plan itself.
In this trading article, I want to cover Harmonic trading indicators that I find very useful in trading.
You will also learn how to see momentum on the chart and have a general area where you will look for trading setups.
These indicators are useful for any style of trading including swing and position trading.
In the archives Harmonic_Pattern_Indicator.rar:
- Harmonic Pattern Indicator.ex4
- Harmonic Pattern Indicator.tpl
Free Download Harmonic Pattern Indicator
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